Municipal Advisor Rule and Disclaimer

This IRMA Exemption Notice dated July 1, 2014, has been prepared and made available by the San Francisco Public Utilities Commission (SFPUC) in light of the
Securities and Exchange Commission’s (SEC) “Municipal Advisor Rule” (pursuant to Section 975 of Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act).

Notice to Readers
The SFPUC Investor Relations site provides general financial information about the San Francisco Public Utilities Commission of the City and County of San Francisco (the Commission) and its outstanding bonds, notes or other obligations. The information is provided for quick reference only and is not an offer to sell or a solicitation of an offer to buy the Commission's Bonds.

It is not a summary or a compilation of all information relevant to any particular financial transactions, bonds, notes or other obligations. It does not purport to include every item that may be relevant, nor does it purport to present full and fair disclosure with respect to any financial transactions, bonds, notes or other obligations related to the Commission within the meaning of applicable securities laws and regulations.

The information presented on this site speaks only as of the date it was posted or, if such information is dated, as of its dated date. The Commission does not undertake continuously to update materials posted on this site. Developments may occur after the dated date or posted date of such information that could render it inaccurate or unreliable. Any of the information on this website may be removed at any time.

Certain information has come from other sources that are not developed by the Commission, and the Commission presents that information for convenience only. The Commission does not guarantee the accuracy of any such information and undertakes no responsibility to verify any of that information. All information on this website has been obtained by the Commission from sources believed to be reliable but no representation or warranty is made by the Commission as to its accuracy or completeness.

By choosing to proceed and view the financial information on this website, you are acknowledging that you have read and understood this Notice and Disclaimer.
THIS IS NOT AN OFFER TO SELL BONDS. Information on this site is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Investors wishing to purchase any of the Bonds must do so from a registered broker-dealer, and not from the Commission. Persons considering purchasing any of these Bonds may obtain a copy of the applicable Official Statement from their broker-dealer.

Viewers acknowledge that: (1) the Commission is not now by this site and the information shown herein offering any bonds, notes or other obligations, nor soliciting an offer to buy any such securities; (2) this site and the information herein shall not be construed as any description of the Commission, any departments thereof or the programs of the Commission in conjunction with any offering of bonds, notes or other obligations; (3) the information on this site is subject to change without notice, and no one shall assume from the availability of this site and the information herein that the affairs of the Commission and/or the programs of the Commission have not changed since the date of this information; (4) no representation is made as to the propriety or legality of any secondary market trading of the bonds, notes or other obligations of the Commission by anyone in any jurisdiction, and (5) the information on this site speaks as of its date, and the Commission does not hereby obligate itself in any manner to periodically or otherwise update this information or to maintain the availability of this information.
Choice of Law: Construction of the disclaimers above and resolution of disputes regarding such disclaimers are governed by the laws of the State of California. The laws of the State of California shall apply to all uses of this site and the information contained in this site.

Viewer Acknowledgement and Agreement: By viewing this website and the information contained herein, the viewer acknowledges and agrees that any use of the site and information contained herein shall conform to all applicable laws and regulations and that the viewer shall not violate the rights of any third parties and agrees to all of the terms, conditions and provisions set forth above.